KeyCorp Trims SM Energy (NYSE:SM) Target Price to $60.00

SM Energy (NYSE:SM) had its price target trimmed by KeyCorp from $65.00 to $60.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Several other equities research analysts have also recently issued reports on SM. Tudor, Pickering, Holt & Co. raised shares of SM Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Truist Financial decreased their target price on shares of SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Mizuho cut their price target on SM Energy from $62.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on SM Energy from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, TD Cowen raised SM Energy from a “hold” rating to a “buy” rating and lowered their price objective for the company from $64.00 to $60.00 in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.73.

SM Energy Stock Down 1.5 %

Shares of NYSE SM opened at $42.85 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50-day moving average is $43.02 and its two-hundred day moving average is $45.97. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26. The company has a market capitalization of $4.93 billion, a PE ratio of 6.72 and a beta of 4.18.

SM Energy (NYSE:SM) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The company had revenue of $634.56 million during the quarter, compared to analysts’ expectations of $616.63 million. SM Energy had a return on equity of 21.01% and a net margin of 33.18%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 earnings per share. Equities analysts anticipate that SM Energy will post 6.96 EPS for the current fiscal year.

SM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Friday, October 25th will be given a $0.20 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.87%. This is a positive change from SM Energy’s previous quarterly dividend of $0.18. SM Energy’s dividend payout ratio is presently 12.54%.

Institutional Trading of SM Energy

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in shares of SM Energy by 11.4% during the third quarter. CWM LLC now owns 2,853 shares of the energy company’s stock worth $114,000 after purchasing an additional 293 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in SM Energy by 2.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,045 shares of the energy company’s stock worth $477,000 after acquiring an additional 300 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in SM Energy by 63.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company’s stock worth $38,000 after acquiring an additional 340 shares during the period. Arizona State Retirement System grew its position in SM Energy by 1.4% in the second quarter. Arizona State Retirement System now owns 32,403 shares of the energy company’s stock valued at $1,401,000 after acquiring an additional 437 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in shares of SM Energy by 509.7% during the first quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock valued at $28,000 after purchasing an additional 474 shares during the period. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.